LiDAR Market 2027 Global Size Outlook | Risk, Growth Insight, Share, Trends, Forecast

The global Lidar Market size is anticipated to be worth USD 3.7 billion by 2027 and registering 13.2% CAGR during the forecast period from 2020 to 2027, as per a new report by Million Insights. Increasing use of LiDAR system in automobile safety, environmental mapping and corridor mapping is attributing to its growth. In addition, increasing adoption of autonomous vehicles is likely to spur product demand. LiDAR plays a vital role in sensing and it is integrated with ADAS technologies to ensure vehicle safety.

 

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Market Synopsis of LiDAR Market:

 

Safety parameters are gaining traction as governments are mandating the use of ADAS system in the automotive industry. For example, the U.K. government has framed regulatory guidelines to necessitate the installation of collision avoidance feature. In addition, increasing use of 3D mapping technology is anticipated to bolster the demand for LiDAR technology. Considering the high demand for this technology, market players are focusing on the introduction of new products. For example, Faro Technology in 2018 introduced a brand new airborne LiDAR scanning system in collaboration with STORMBEE.

 

Increasing concern pertaining to environment safety has enforced government authorities to frame stringent regulations. Authorities are introducing activities, policies and strategies to address the concern. LiDAR ability to store large point files is a stumbling block for new users. However, technological advancements have offered high accuracy in various applications such as water runoff for mining sites agricultural sites, inland waterways and hillsides.

 

North America held the largest share in the LiDARmarket in 2019 owing to stringent regulations that mandate the use of LiDAR in automotive safety. The country has mandated the use of LiDAR in both heavy-duty and light-duty vehicles. Besides, Asia Pacific is anticipated to register the highest CAGR over the forecast duration.

 

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Table of Contents:-

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 LiDAR: Market Variables, Trends & Scope              

Chapter 4 LiDAR: Product Estimates & Trend Analysis

Chapter 5 LiDAR: Application Estimates & Trend Analysis

Chapter 6 LiDAR: End-use Estimates & Trend Analysis

Chapter 7 LiDAR: Industrial End-use Estimates & Trend Analysis

Chapter 8 LiDAR: Regional Estimates & Trend Analysis

Chapter 9 Competitive Landscape

Chapter 10 LiDAR: Manufacturers Company Profiles

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LiDAR Market Profile | Opportunities & Challenges | Forecast To 2028

Million Insights Market Research Released A New Research Report On Global LiDAR Market - Forecast Up To 2025. Report Provide Overview Of Top Key Players, Share Analysis, Size, Stake, Progress, Trends And Their Strategic Profiling In The Market, Comprehensively Analyzing Their Core Competencies, And Drawing A Competitive Landscape For The Market.

Pune, India: Oct. 31, 2019 - LiDAR Market size is estimated to reach USD 1.34 billion by 2024. LiDAR market covers key segments such as terrestrial, airborne and mobile & UAV LiDAR systems. It is a surveying method that measures the distance with help of laser light and sensors that creates 3D representation of target. Airborne systems dominated in market share and are predicted to grow in forecast period. The advantages such as high accuracy and detailed information of Airborne system has increased their use over photogrammetry. The systems delivers large area mapping in short time and are efficient.

LiDAR is used in high-resolution maps the technology is also used in navigation and control of autonomous cars. The vertical integration in LiDAR market has various advantages and adds significant value to supply chain operators. Light Detection and Ranging systems have made mapping of objects, detection, and examination easier than photogrammetry technique. The Chinese firm Nova Workvision Digital Technology Co. Ltd. Provides outsourcing service along with mapping products such as Digital Terrain model (DTM), Digital surface model (DSM), and Digital elevation model (DEM).

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Airborne systems uses laser light generate a 3D representation of target landscape. LiDAR systems provide a precise data points in short time for creating digital elevation models and are anticipated to replace the present photogrammetry mapping technique due to their high ability of 3D scanning of images in short time.

LiDAR market is segmented based on application that includes Engineering environment, Advanced Driver Assistance (ADAS), corridor mapping and others. Among these segments the corridor mapping is expected to dominate with over 37.99% of industry share in 2015.

LiDAR is used for atmospheric research and meteorology and the LiDAR instruments also have applications in aircraft, satellites with main purpose of surveying and mapping. The mobile system collects 3D point cloud data for creating map. Mobile and UAV systems will have great opportunities in emerging Economies and will drive the market worldwide over forecast period.

On basis of components the LiDAR industry is fragmented into GPS components, navigation device, laser scanner and other devices that are used for capturing, processing and storing data such as camera equipment. Laser scanner has great importance in LiDAR technology, owing to this fact the laser segment is expected to grow at a significant rate.

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Market Segment:

LiDAR Product Type Outlook (Revenue, USD Million, 2014 - 2024)

    • Airborne

    • Terrestrial

    • Mobile & UAV

LiDAR Application Type Outlook (Revenue, USD Million, 2014 - 2024)

    • Corridor Mapping

    • Engineering

    • Environment

    • Exploration

    • Advanced Driver Assistance Systems (ADAS)

    • Others

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At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

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